Connecticut General Statutes 38a-704 – Penalty for acting as insurance producer without license
Any person, partnership, association, limited liability company or corporation, or any person, partnership, association, limited liability company or corporation acting under a trade name, that acts within this state, either on the person’s own behalf or as a representative or agent of any other person or partnership, association, limited liability company or corporation or any other person, partnership, association, limited liability company or corporation acting under a trade name, as an insurance producer, as defined in section 38a-702a, unless such person holds an insurance producer license then in force from the commissioner authorizing the person so to act, shall be fined not more than ten thousand dollars or imprisoned not more than three months, or both.
Terms Used In Connecticut General Statutes 38a-704
- Commissioner: means the Insurance Commissioner. See Connecticut General Statutes 38a-702a
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Insurance: means any of the lines of authority contained in this title. See Connecticut General Statutes 38a-702a
- License: means a document issued by the commissioner authorizing a person to act as an insurance producer for the lines of authority specified in the document. See Connecticut General Statutes 38a-702a
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual or a business entity. See Connecticut General Statutes 38a-702a
- producer: means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance. See Connecticut General Statutes 38a-702a
- State: means any state, district, or territory of the United States. See Connecticut General Statutes 38a-1